Positive third quarter results for HEMA

Positive third quarter results for HEMA

Dutch store chain HEMA has posted positive results for its third quarter of 2015: its net turnover and like-for-like turnover both grew compared to the year before.

"Satisfied with turnover development"

Net turnover grew 8 % from 271.1 million euro to 292.8 million euro, while like-for-like turnover grew 5.2 %. Only a year ago, the company had to deal with a 6.8 % like-for-like turnover drop, but since then it has had 3 consecutive quarters with like-for-like turnover increases.

 

Thanks to these excellent performances, its adjusted EBITDA is also heading in the right direction, from 22 million euro to 23.5 million euro, which is the first EBITDA increase in 3 years' time.

 

"Like-for-like sales were up for the third consecutive quarter. We outperformed the market in all product categories and have also successfully raised the number of customer visits and transactions. We are satisfied with the development of sales and the increase in adjusted EBITDA", HEMA CEO Tjeerd Jegen said.

 

Deal with VAB

Hema has also struck a deal with the Dutch franchise organization VAB, bringing a close to the legal case between both parties regarding the costs franchisees had to pay to the parent company. "We are also pleased that we managed to reach a settlement agreement with our franchisees. We have made arrangements about our collaboration and will not let discussions from the past overshadow these future developments. We came together because of our mutual interest to make HEMA a strong and healthy company", Jegen said.

 

HEMA and its Dutch franchisees have been at each other's throats since 2009, but this new deal means HEMA will pay 19 million euro to VAB's members over the next three years, including interests and compensations. 

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